However, while the US has imposed additional tariffs on Chinese imports in the course of theUS-China trade war, beneath the headlines, the USTR has put in place a tariff exclusion process to exempt certain Chinese imports from additional tariffs. Chinese goods in either one of the following...
On the same day, Reuters reported that the Biden administration is considering granting a request from a South Korean solar panel manufacturer to overturn an exemption that allows certain solar panel technology to be imported into the US from China and other countries without paying tariffs. In a ...
Further, tariffs tend to simply be bypassed by China; for example, in US imports of solar panels, of which manufacturing is shifted to Malaysia, Thailand, Cambodia, and Vietnam. This is another example of tariff inefficiency, and it mirrors the case of vehicle spare parts manufacturing being ...
The Biden administration's decision to delay the tariffs has encountered controversy in Congress7and a joint resolution was passed to reimpose the tariffs in May 2023.8The president, however, vetoed the bill and the duty suspension remained in force.9Though Congressional objections to the ...
elevated40%.USshareinChina’sexportshasalsodeclinedmarkedlyfrom19.1%inSep-18to14.6%now.WhileeffortstorerouteUS-Chinatradeviathird-party economieshasmeantthereduceddependencetrendcouldbesomewhat overstated,wehaveseenevidencethattrade-reroutinghasdeclinedsteadily(seeTheViewpoint:Addressingyourquestionsontariffs,22July20...
For other Asian markets, open economies that are highly exposed to both mainland China and the US include South Korea, Taiwan, and Thailand. Over the longer term, those with the potential to fill the gap in the dislocated supply chain due to tariffs...
While US imports from China fell by around 15% year-on-year in the first quarter of the year, Bangladesh, India, Indonesia, Malaysia, South Korea, Taiwan, Thailand and Vietnam saw their exports to America grow by more than 16%.However, the report warns that the rise in tariffs spark...
In June of last year, President Biden of the United States announced that photovoltaic modules andphotovoltaic batteriesimported from Cambodia, Malaysia, Thailand and Vietnam would be exempted from tariffs for 24 months to ensure that the United States photovoltaic industry ...
Upon its entry into force, more than 90 percent of the tariffs on trade in goods will be eventually eliminated within 20 years. The RCEP is also designed to go beyond the commitments under the WTO Trade Facilitation Agreement, in terms of further simplifying customs procedures, expediting customs...
We are now at a point where the majority of goods imported from China to the US are subject to the added tariffs. Without a trade deal between China and the United States, it’s likely that we’ll see the tariffs being increased further. ...